SYMPHONY LIMITED (1W TF) - Swing Trade Analysis given on 23rd March, 2024
Pattern: AT WEEKLY SUPPORT
- Pullback candle at Weekly Support - Done ✓
- Strong Volume candle at Support - Done ✓
- Demand Zone Retest & Consolidation - In Progress
#symphony
Good triangle pattern formation on the monthly chart of SYMPHONY.
Good to buy above - 940, but can add a small Qty at the current level of 916, with SL - 815.
Please Buy with a long-term view, minimum 1-2 yrs.
NOTE:- Please maintain good Risk to rewards as per your risk appetite.
NSE:SYMPHONY
cmp 960
heading towards 1250-1500
The objective of this analysis is knowledge sharing and education. There isn't any buy or sell advise in this article. Every stock is held for a short to medium amount of time and is positional.
It is expected of each person to carry out independent research and evaluation to ascertain whether my perspective is...
Disclaimer:
Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell.
WaveTalks - Market Whispers: Can you hear them?
Symphony, a notable player in the AC and Refrigeration industry, has experienced a turbulent journey in the stock market. After...
-Ready to break very strong resistance
-trading near resistance looks good
-volume squeeze near resistance which is good for next momentum
-above all crucial ema & sma
-keep in radar above 955
Consumer Durable Stocks expected to do well, triple bottom structure in place. Making higher lows and higher highs in daily time frame. Good volumes also seen.
SYMPHONY AT STRONG SUPPORT
looking good at current level took decent strong bounce from these levels
decent fundamentals
PE at 55
strong technical bounce
Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
I am posting this chart so that we can trade this opportunity in future. I.e. Learning from the past and implementing in future.
Just look at the chart pattern, it looks like a bearish "flag" in 1 hour timeframe. Just look at the buying pressure at 1st 1 hour candle.
What's next?
Well, I am expecting this rally will continue after a retest at the "breakout...
synphony long position, having good result from last 2 quater and reduction in Debt
Symphony can touch around 940 in short term with SL 847.
position at 870 TG 940 SL 847.
Note: onyl for learning purpose, trade at your own risk.
NSE:SYMPHONY The Consumer Durable sector in India has attracted significant investments over the years which resulted in increasing demand and also facilitated by the rise in disposable income. Indian Appliance and Consumer Electronics Industry’s market size was 21.49 billion USD in FY17 and is expected to be at 48.37 billion USD by FY22. The unorganized markets...
It's a range bound trading strategy.
Stock has been trading in this range since last 8 years. During this 8 years, Fixed assets have grown up from 68 Cr to 351 Cr. Reserves have gone up from 299 Cr to 867 Cr. But stock is still trading at bottom level of 830.
Stock is below 200 MA which is a good sign of saying not overvalued at this point.
As shown in the...
Trying to bet on multi year support.
Jun 20 - Dec 20 - Consolidated and moved up
Jun 22 - Dec 22 - Consolidated and moved up
May 23 - ? - Consolidating. Will it move up to fill the gap at 1070 or the support becomes weak?
I do not understand if there is a pattern suggesting up move. Betting on support based trading is risky.
Investing profit from other trade...
In the Weekly Chart of SYMPHONY ,
we can see that; it has multiple rejections at 920 level and now it has formed a hammer candle.
Enter on breaking Hammer candle's High with Low as SL.
After entering hold at least for an year for better % of returns.
1. Trend : sideways trend since June 2023
2. Pattern : near support zone of channel pattern
3. Volume breakout : volume pickup in daily chart
4. Comments : Stock should end above 939 on a weekly basis to further upside
5. Entry / exit : entry 1 - 890(CMP) - could be risky, entry 2 - 939 (abbove resistance zone), SL - 801 (below support trend line)
6. RRR : 2.38,...
